Distribution Solutions Group (NASDAQ:DSGR) Sets New 1-Year High at $39.01

Distribution Solutions Group, Inc. (NASDAQ:DSGR)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $39.01 and last traded at $38.60, with a volume of 30907 shares. The stock had previously closed at $37.72.

Wall Street Analyst Weigh In

A number of brokerages have commented on DSGR. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of Distribution Solutions Group in a research report on Monday, August 5th. Barrington Research increased their target price on Distribution Solutions Group from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, August 19th.

Distribution Solutions Group Stock Performance

The firm has a 50 day moving average of $34.90 and a two-hundred day moving average of $33.60. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.50 and a quick ratio of 1.28. The stock has a market cap of $1.83 billion, a PE ratio of -89.81 and a beta of 0.97.

Distribution Solutions Group (NASDAQ:DSGR) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. Distribution Solutions Group had a negative net margin of 1.25% and a positive return on equity of 7.42%. The business had revenue of $439.54 million during the quarter, compared to the consensus estimate of $437.40 million. During the same quarter in the previous year, the firm earned $0.26 EPS. Research analysts predict that Distribution Solutions Group, Inc. will post 1.39 EPS for the current fiscal year.

Institutional Trading of Distribution Solutions Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in Distribution Solutions Group by 8.6% during the 1st quarter. BNP Paribas Financial Markets now owns 8,500 shares of the company’s stock worth $302,000 after buying an additional 676 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Distribution Solutions Group by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,417 shares of the company’s stock valued at $335,000 after acquiring an additional 406 shares during the period. Inspire Investing LLC purchased a new stake in Distribution Solutions Group in the 1st quarter valued at $352,000. California State Teachers Retirement System boosted its stake in Distribution Solutions Group by 15.7% during the 1st quarter. California State Teachers Retirement System now owns 11,530 shares of the company’s stock worth $409,000 after purchasing an additional 1,563 shares during the period. Finally, Rhumbline Advisers grew its position in Distribution Solutions Group by 11.1% during the 2nd quarter. Rhumbline Advisers now owns 13,986 shares of the company’s stock worth $420,000 after purchasing an additional 1,398 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

About Distribution Solutions Group

Distribution Solutions Group, Inc, a specialty distribution company, engages in the provision of value-added distribution solutions in North America, Europe, Asia, South America, and the Middle East. The company provides its solutions to the maintenance, repair, and operations (MRO); original equipment manufacturer (OEM); and industrial technology markets.